Tag Archives | Partnership

Accounting for Partnership Dissolution | Accounting

Many partnerships limit capital transactions almost exclusively to contributions, drawings, and profit and loss allocations. Normally, though, over any extended period, changes in the mem­bers who make up a partnership occur. Employees may be promoted into the partnership or new owners brought in from outside the organization to add capital or expertise to the busi­ness. Current partners eventually retire, die, [...]

By |2018-05-16T07:35:55+00:00May 16, 2018|Dissolution|Comments Off on Accounting for Partnership Dissolution | Accounting

Liquidation of a Partnership Firm | Business | Accounting

In this article we will discuss about under what conditions would a partnership firm be liquified. Introduction: Partnerships can be rather frail organiza­tions. Termination of business activities followed by the liquidation of partnership property can take place for a variety of reasons, both legal and personal. In any firm, unless there is continuous open and candid communication among equity partners, [...]

By |2018-05-16T07:35:55+00:00May 16, 2018|Liquidation|Comments Off on Liquidation of a Partnership Firm | Business | Accounting
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